Sarah Kovner Joins New York State Banking Board

June 26, 2007

New York, N.Y.: The New York State Banking Department is pleased to announce that Ms. Sarah Kovner will serve as a member of the New York State Banking Board. Ms. Kovner was appointed by Governor Eliot Spitzer and was confirmed by the State Senate on June 14, 2007. She will serve as a public member on the Board for a term which expires March 1, 2010. As a member of the State Banking Board, Ms. Kovner will receive no salary.

“I believe that Sarah Kovner’s history of involvement with public, political, financial and social initiatives will bring a unique perspective to the board,” said Banking Department Superintendent Richard H. Neiman.

Ms. Kovner is currently an advisor to non-profit organizations and candidates for public office, and a board member on a number of social groups, including the High School for Environmental Studies and Alliance for Justice. Ms. Kovner served as Special Assistant to the Secretary of the U.S. Department of Health and Human Services in Washington DC from 1993 to 2001. In that role, she was the department representative for a selection of committees focused on women. Prior to 1993, Ms. Kovner founded and served on the board for a number of organizations, including the New York Women’s Foundation, the National Women’s Political Caucus, Community Capital Bank, and First Women’s Bank.

In addition to Ms. Kovner’s appointment, three current industry members of the Board have been reappointed. Mr. Hans Joachim Doepp, Thomas Siciliano, and E. Peter Forrestel II have each been reappointed for a term to expire on March 1, 2010.

The 17-member Banking Board includes both industry and public members and is chaired by the Superintendent of Banks, Richard H. Neiman. More information about the New York State Banking Department and Banking Board is available on the Banking Department's Website at www.banking.state.ny.us.

TheNew York State Banking Department is the regulator for all state-chartered banking institutions, virtually all of the United States offices of international banking institutions, all of the State’s mortgage brokers, mortgage bankers, check cashers, money transmitters and budget planners. The aggregate assets of the depository institutions supervised by the Banking Department are more than $1.8 trillion.

In addition to regulating banking institutions, the Banking Department is active in informing and educating all New Yorkers on banking matters. To contact the Banking Department, please call 1-877-BANK-NYS or visit our Web site at www.banking.state.ny.us.